Chinese ferrovanadium prices drop
2023-04-19 08:21:21 [Print]
BEIJING (Asian Metal) 19 Apr 23 - In view of the soft demand from terminal users and dropping raw material prices, Chinese ferrovanadium market mentality maintained negative during the past week. Currently, the mainstream prices of Chinese ferrovanadium 50%min stand at RMB125,000-127,000/t (USD36.6-37.2/kg V) delivered D/A 180 days, down by RMB2,000/t (USD0.6/kg V) from late last week. Considering that few buyers would like to add inventory and the rare inquiry in spot market continues, insiders believe that the mainstream prices of Chinese ferrovanadium 50%min would move down further in the coming week.
"Prices of ammonium metavanadate 98%min we inquired dropped to the latest around RMB112,000/t (USD16.4/kg) EXW D/P and our regular clients all prefer to watch the market now," said a trader in South China. In order to promote sales, they could accept RMB126,000/t (USD36.9/kg) delivered D/A 180 days for firm bids of ferrovanadium 50%min now. They last sold 10t at RMB130,000/t (USD38.1/kg V) about one week ago. Considering that inquiries in spot market stay rare and they could easily feel the negative mentality, they predict that the mainstream prices of Chinese ferrovanadium 50%min would drop below RMB120,000/t (USD35.2/kg V) in the coming week.
With a monthly trading volume of 40tpm, they sold about 480t in 2022 and about 100t in the fist three months of 2023. They expect to sell about 25t this month, down by about 10t from March due to lack of orders, holding around 10t of regular inventories for the moment, unchanged MoM.
"In view of the dropping raw material prices, we have to drop our ferrovanadium 50%min prices to guarantee our market competitiveness. For firm bids, we need at least RMB125,000/t (USD36.6/kg V) delivered D/P," said a trader in North China. They just sold 10t of ferrovanadium 50%min at this price level this Monday. However, they refused to sell at any prices below RMB128,000/t (USD37.5/kg V) just one week ago. Prices of vanadium pentoxide flake 98%min they inquired dropped to the latest around RMB116,000/t (USD7.8/lb V2O5) EXW D/P. Considering that the dropping raw material prices couldn't offer any positive influence, they expect that the mainstream prices of Chinese ferrovanadium 50%min would move down to around RMB120,000/t (USD35.2/kg V) in the following week.
With a regular trading volume of 30tpm, they sold about 360t in 2022 and about 90t so far this year. They expect to sell about 30t this month, the same as last month. They have around 15t of regular stocks now, unchanged MoM.
"Prices of ammonium metavanadate 98%min we inquired dropped to the latest around RMB112,000/t (USD16.4/kg) EXW D/P and our regular clients all prefer to watch the market now," said a trader in South China. In order to promote sales, they could accept RMB126,000/t (USD36.9/kg) delivered D/A 180 days for firm bids of ferrovanadium 50%min now. They last sold 10t at RMB130,000/t (USD38.1/kg V) about one week ago. Considering that inquiries in spot market stay rare and they could easily feel the negative mentality, they predict that the mainstream prices of Chinese ferrovanadium 50%min would drop below RMB120,000/t (USD35.2/kg V) in the coming week.
With a monthly trading volume of 40tpm, they sold about 480t in 2022 and about 100t in the fist three months of 2023. They expect to sell about 25t this month, down by about 10t from March due to lack of orders, holding around 10t of regular inventories for the moment, unchanged MoM.
"In view of the dropping raw material prices, we have to drop our ferrovanadium 50%min prices to guarantee our market competitiveness. For firm bids, we need at least RMB125,000/t (USD36.6/kg V) delivered D/P," said a trader in North China. They just sold 10t of ferrovanadium 50%min at this price level this Monday. However, they refused to sell at any prices below RMB128,000/t (USD37.5/kg V) just one week ago. Prices of vanadium pentoxide flake 98%min they inquired dropped to the latest around RMB116,000/t (USD7.8/lb V2O5) EXW D/P. Considering that the dropping raw material prices couldn't offer any positive influence, they expect that the mainstream prices of Chinese ferrovanadium 50%min would move down to around RMB120,000/t (USD35.2/kg V) in the following week.
With a regular trading volume of 30tpm, they sold about 360t in 2022 and about 90t so far this year. They expect to sell about 30t this month, the same as last month. They have around 15t of regular stocks now, unchanged MoM.
